🔥🔥🔥 THE END OF TERRA: CONTROL OF TERRA BLOCKCHAIN IS PASSING TO THE COMMUNITY AFTER SEC DEAL‼️
➡️ The Terra ecosystem had difficulty recovering after the market crash in 2022 and entered into rebranding efforts. However, Terraform Labs recently settled a $4.47 billion penalty with the U.S. Securities and Exchange Commission (SEC). Following this agreement, the company decided to cease its operations and transfer control of Terra Blockchain to the community.
➡️ Terraform Labs CEO Chris Amani announced that the company will completely terminate its operations. Amani stated that they decided to terminate the company's operations and plan to sell important projects in the Terra ecosystem. Additionally, the Terra manager made the decision to burn earnings, emphasizing the need for community-led governance.
➡️ This decision of Terraform Labs negatively affected the market performance of Terra tokens. LUNA and LUNC tokens, which rose after the SEC agreement, started to decline with the liquidation decision.
🔥 The decision to close Terraform Labs is seen as an important turning point in the crypto world, and the community will play an important role in determining the future of Terra❗️
